Financial Instruments and Risk Management (Tables)

9 Months Ended

Nov. 30, 2016

Financial Instruments and Risk Management

Schedule of fair values of derivative instruments

FAIR VALUES OF DERIVATIVE INSTRUMENTS

(in thousands)

	November 30, 2016
					Prepaid				Accrued
					Expenses				Expenses
		Final			andOther				andOther		Other
		Settlement	Notional		Current		Other		Current		Liabilities,
Derivatives designated as hedging instruments	HedgeType	Date	Amount		Assets		Assets		Liabilities		Non-current
Foreign currency contracts - sell Euro	Cash flow	2/2018	€	15,750	$	1,186	$	140	$	-	$	-
Foreign currency contracts - sell Canadian Dollars	Cash flow	12/2017	$	19,000		48		1		164		-
Foreign currency contracts - sell Pounds	Cash flow	8/2017	£	6,150		1,224		-		-		-
Foreign currency contracts - sell Mexican Pesos	Cash flow	5/2017	$	9,600		48		-		-		-
Foreign currency contracts - sell Australian Dollars	Cash flow	2/2017	$	250		-		-		5		-
Subtotal						2,506		141		169		-
Derivatives not designated under hedge accounting
Foreign currency contracts - cross-currency debt swaps	(1)	1/2018	$	10,000		-		734		-		-
Total fair value					$	2,506	$	875	$	169	$	-

	February 29, 2016
					Prepaid				Accrued
					Expenses				Expenses
		Final			and Other				and Other		Other
		Settlement	Notional		Current		Other		Current		Liabilities,
Derivatives designated as hedging instruments	Hedge Type	Date	Amount		Assets		Assets		Liabilities		Non-current
Foreign currency contracts - sell Euro	Cash flow	2/2017	€	27,000	$	1,066	$	-	$	-	$	-
Foreign currency contracts - sell Canadian Dollars	Cash flow	6/2017	$	28,000		-		-		495		7
Foreign currency contracts - sell Pounds	Cash flow	2/2017	£	3,450		94		-		-		-
Foreign currency contracts - sell Australian Dollars	Cash flow	8/2016	$	1,650		6		-		-		-
Subtotal						1,166		-		495		7
Derivatives not designated under hedge accounting
Foreign currency contracts - cross-currency debt swap	(1)	1/2018	$	5,000		-		206		-		-
Total fair value					$	1,166	$	206	$	495	$	7

(1) We have entered into foreign currency contracts referred to as “cross-currency debt swaps”, which in effect adjusts the currency denomination of our 3.90% Senior Notes due January 2018 to the Euro for the notional amounts reported, creating an economic hedge against currency movements. On these contracts, we have not elected hedge accounting.

Schedule of pre-tax effect of derivative instruments

PRE-TAX EFFECT OF DERIVATIVE INSTRUMENTS

(in thousands)

	Three Months Ended November 30,
	Gain/(Loss)				Gain/(Loss)Reclassified from
	RecognizedinOCI				AccumulatedOther Comprehensive					Gain/(Loss)Recognized
	(effectiveportion)				Income(Loss)intoIncome					As Income
	2016		2015		Location	2016		2015		Location	2016		2015
Currency contracts - cash flow hedges	$	2,049	$	1,841	SG&A	$	522	$	263		$	-	$	-
Cross-currency debt swaps - principal		-		-			-		-	SG&A		493		324
Cross-currency debt swaps - interest		-		-			-		-	Interest Expense		-		-
Total	$	2,049	$	1,841		$	522	$	263		$	493	$	324
	Nine Months Ended November 30,
	Gain/(Loss)				Gain/(Loss)Reclassified from
	RecognizedinOCI				AccumulatedOther Comprehensive					Gain/(Loss)Recognized
	(effectiveportion)				Income(Loss)intoIncome					As Income
	2016		2015		Location	2016		2015		Location	2016		2015
Currency contracts - cash flow hedges	$	2,319	$	2,653	SG&A	$	505	$	503		$	-	$	-
Cross-currency debt swaps - principal		-		-			-		-	SG&A		528		324
Cross-currency debt swaps - interest		-		-			-		-	Interest Expense		35		-
Total	$	2,319	$	2,653		$	505	$	503		$	563	$	324